Subscriber Login

Asia-Pacific News

China’s energy companies to form power trading JV [free access]

February 6, 2018

Six Chinese state-owned energy companies are coming together to form a joint venture (JV) to trade coal and electricity, as well as to invest in an electric transmission system for better connectivity in the Shanxi and Jiangsu provinces.

 

The JV follows the Chinese government’s plans to streamline its state-owned coal industry by consolidating coal miners and encouraging coal companies to undertake more tie-ups with electricity, shipping, and iron and steel firms.

 

China Coal Pingshuo Coal Company Limited, Datong Coal Mine Group, Datang International Power Generation Company Limited, Jinneng Group Company, Jiangsu Guoxin Investment Group Limited and Shanxi Shentou Power Corporation, together will invest a total of CYN6 billion to form the JV named Sujin Energy Holding.

 

The JV will invest in the operation of the Shanxi–Jiangsu ultra high voltage transmission project, and trade in electricity, coal and natural gas.

 

(CNY1=USD0.146)